Plastics News Report
Dearborn, Michigan -- International Automotive Components Group is adding to its global footprint with the acquisition of India's Multivac India Private Ltd, a New Delhi-based maker of instrument panels, door panels and other interior trim.
The company will add manufacturing capability in northern India, adding it to IAC's existing foothold in the western automotive hub of Pune, said Jim Kamsickas, president and ceo of Dearborn, Michigan-based IAC North America and Asia, in a 12 Jan news release.
IAC previously had a regional engineering centre in Pune and manufacturing in Chakan and is building a second factory in Chakan in automaker Mahindra & Mahindra's supplier park.
Terms of the acquisition were not released.
Multivac supplies interior trim to customers including Volkwagen, Maruti Suzuki, Volvo and Mahindra & Mahindra and has 135 employees.
IAC has continually sought acquisitions since it was created by financier Wilbur Ross in 2006 out of parts of other suppliers, including Lear Corp. It will continue to look for opportunities, Ross said in published statements on 11 Jan.
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